Aon reported strong financial results for Q4 and full-year 2024, with total revenue increasing by 23 percent in the fourth quarter and 17 percent for the year, driven by organic revenue growth of 6 percent and the acquisition of NFP. The company posted a 33 percent increase in diluted EPS for the quarter, while adjusted EPS grew by 14 percent. Full-year diluted EPS remained flat, while adjusted EPS increased by 10 percent.

Operating margin improved to 26.3 percent in the fourth quarter from 23.1 percent a year earlier, but the full-year operating margin declined to 24.4 percent from 28.3 percent. Adjusted operating margin was 33.3 percent in the fourth quarter and 31.5 percent for the full year. Cash flow from operations declined by 12 percent to $3 billion due to higher tax payments, restructuring, and integration costs. Free cash flow decreased by 11 percent to $2.8 billion.

The company introduced new segmentation with two business units: risk capital, which includes commercial risk and reinsurance solutions, and human capital, which covers health and wealth solutions. Risk capital revenue grew by 13 percent in Q4, while human capital revenue increased by 41 percent, largely due to the NFP acquisition.

Aon provided 2025 guidance, expecting mid-single-digit or greater organic revenue growth, adjusted margin expansion, strong adjusted EPS growth, and double-digit free cash flow growth. The company plans to continue investing in organic growth, tuck-in acquisitions, and shareholder returns, including $1 billion in share repurchases.

CEO Greg Case highlighted strong client demand for Aon's risk and human capital solutions amid complex market conditions. He emphasized the company’s ability to deliver long-term value through its strategic initiatives, including the integration of NFP and execution of the 3x3 Plan.